Stonegate Investment Group LLC Has $568,000 Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Stonegate Investment Group LLC trimmed its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 9.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,147 shares of the biopharmaceutical company’s stock after selling 641 shares during the period. Stonegate Investment Group LLC’s holdings in Gilead Sciences were worth $568,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of GILD. State Street Corp raised its holdings in shares of Gilead Sciences by 1.4% in the 3rd quarter. State Street Corp now owns 60,171,691 shares of the biopharmaceutical company’s stock worth $5,044,795,000 after buying an additional 841,776 shares in the last quarter. Wellington Management Group LLP boosted its position in Gilead Sciences by 50.9% in the 3rd quarter. Wellington Management Group LLP now owns 34,600,676 shares of the biopharmaceutical company’s stock valued at $2,900,921,000 after buying an additional 11,665,593 shares during the last quarter. FMR LLC grew its position in shares of Gilead Sciences by 79.4% during the 3rd quarter. FMR LLC now owns 33,162,319 shares of the biopharmaceutical company’s stock worth $2,780,329,000 after buying an additional 14,680,161 shares during the period. Geode Capital Management LLC grew its stake in shares of Gilead Sciences by 2.1% during the third quarter. Geode Capital Management LLC now owns 27,540,870 shares of the biopharmaceutical company’s stock worth $2,302,119,000 after purchasing an additional 574,421 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Gilead Sciences by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 7,752,975 shares of the biopharmaceutical company’s stock valued at $650,009,000 after purchasing an additional 224,960 shares in the last quarter. 83.67% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on GILD shares. Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a report on Thursday, November 7th. Robert W. Baird raised their target price on shares of Gilead Sciences from $80.00 to $95.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. The Goldman Sachs Group upped their price objective on shares of Gilead Sciences from $74.00 to $84.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. UBS Group lifted their price target on Gilead Sciences from $70.00 to $96.00 and gave the stock a “neutral” rating in a report on Thursday, November 21st. Finally, Sanford C. Bernstein initiated coverage on shares of Gilead Sciences in a report on Thursday, October 17th. They issued an “outperform” rating and a $105.00 price objective for the company. Eleven research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Gilead Sciences presently has an average rating of “Moderate Buy” and an average target price of $97.96.

Gilead Sciences Stock Down 1.6 %

Shares of GILD opened at $93.85 on Wednesday. The stock’s 50-day moving average price is $91.88 and its two-hundred day moving average price is $85.27. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $116.96 billion, a PE ratio of 1,042.78, a PEG ratio of 1.31 and a beta of 0.18. Gilead Sciences, Inc. has a 12 month low of $62.07 and a 12 month high of $98.90.

Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.44. The business had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.01 billion. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.29 earnings per share. On average, analysts anticipate that Gilead Sciences, Inc. will post 4.36 EPS for the current year.

Insiders Place Their Bets

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 248,645 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $92.76, for a total transaction of $23,064,310.20. Following the completion of the sale, the chief financial officer now owns 138,919 shares in the company, valued at approximately $12,886,126.44. The trade was a 64.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Merdad Parsey sold 25,590 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $91.50, for a total transaction of $2,341,485.00. Following the transaction, the insider now owns 99,599 shares in the company, valued at approximately $9,113,308.50. The trade was a 20.44 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 456,234 shares of company stock worth $42,130,461. 0.16% of the stock is currently owned by company insiders.

About Gilead Sciences

Gilead Sciences, Inc, a biopharmaceutical company, discovers, develops, and commercializes medicines in the areas of unmet medical need in the United States, Europe, and internationally. The company provides Biktarvy, Genvoya, Descovy, Odefsey, Truvada, Complera/ Eviplera, Stribild, Sunlencs, and Atripla products for the treatment of HIV/AIDS; Veklury, an injection for intravenous use, for the treatment of COVID-19; and Epclusa, Harvoni, Vemlidy, and Viread for the treatment of viral hepatitis.